Question: PE 11-1A Proceeds from notes payable OBJ. 1 On May 15, Franklin Co. borrowed cash from Dakota Bank by issuing a 90-day note with a

PE 11-1A Proceeds from notes payable OBJ. 1 On May 15, Franklin Co. borrowed cash from Dakota Bank by issuing a 90-day note with a face amount of $180,000. a. Determine the proceeds of the note, assuming that the note carries an interest rate of 8%, b. Determine the proceeds of the note, assuming that the note is discounted at 8%

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